BRI Ventures Appoints Nicko Widjaja as CEO, Manages Investment Funds of up to 3,5 Trillion Rupiah

PT Bank Rakyat Indonesia Tbk (BRI) officially announced the launch of corporate venture capital (CVC) them BRI Ventures (BV). In its debut, it will manage funds worth $250 million or the equivalent of 3,5 trillion Rupiah to invest in startups.

The focus is on startups that are in stages growth and late stage –equivalent to series A and above. Regarding the landscape, it is said that it is still around fintech, especially those that focus on improving today's consumer ecosystem.

BRI has also appointed Nicko Widjaja to be the CEO. While at MDI Ventures, he now acts as advisor. His successor as CEO of the new MDI Ventures will be announced at the next shareholder meeting. In addition to Nicko, Head of Investment MDI Ventures William Gozali was also recruited to BV, serving as VP of Investments.

According to previous announcements, the corporation has spent $100 million to BV to start operations. Including maneuvering to connect with parties who are judged to be involved in the transformation fintech national.

With the figures described, it can be said that BV has the largest venture fund for one based in Indonesia.

"...digital disruption is real and no industry is immune to it. We're five years behind in terms of companies exploring the region (investment in digital industries), so speed and fast execution are key to learning about what's really going to happen in the future. this game," said Nicko.

BRI Ventures thesis on startup criteria

More specifically about the sector fintech like what Nicko told. So far the growing trend is offline business optimization with technology. For example the presence of Warung Pintar, Fore Coffee, Payfazz and others. He also believes that through BV, there will be many sectors that will be supported through channels and externals fintech, ranging from retail, education, to health.

Previously in a joint interview DailySocial at the inauguration MDI office in Singapore Nicko explained about his strategy for the success of the venture business. Currently Southeast Asia is gaining momentum for a surge in investment, while investors need "consultants" to understand the ecosystem here. What he practices with MDI is providing fund owners with comprehensive knowledge, while transferring relevant skills across the market.

2018 is an important moment for corporate ventures. During the year there were 2740 CVC transactions that contributed to the (announced) $53 billion investment value for digital startups. Meanwhile, Asia gets a share of 38% of the total investment value.

Both under the leadership of Nicko Widjaja, BV will focus on mobilizing investments in the series A funding stage and beyond, while MDI Ventures will seek more mature deals with stronger fundamentals.